As of today (9/10/12) it is still in committee with no meetings scheduled. What a suprise (not). I'm sure the fix is in and the U. S. is putting pressure on Canada to kill this bill. Here is a link to the committee. It is Bill C-290.

The rumor is the the OLG (Ontario Lottery and Gaming Corporation) is going to run the single game sports betting in Ontario. They are the same outfit that runs the existing "parlay only" sports betting in Ontario. Unless their philosophy changes, they are not quite like the sports betting you are used to doing. First, they have a $200 maximum bet limit. Second, they don't put out a full card of games. they kind of pick and choose which games to offer. Third, they do not offer any NBA games. This is because of an agreement with the hypocritical NBA that banned NBA sports betting in Canada for the rights to have the Toronto Raptors locate in Canada. Fourth, it will cost you $8 to $12 to get back and forth from Canada.So, even though this bill will be a significant improvement over "Parlay only" betting it will not quite be what you expect. Personally, I believe Canada should turn over the sportsbooks to the gambling companies that know how to run them and just get their usually substantial cut of the take.

It looks looks they had the meeting. You can use the link in my other post to find the video of it. The video starts before the meeting actually starts but it finally gets going Their may also be a transcript somewhere but I haven't found it yet.

CBCSports.ca spoke with Jim Warren, president and CEO of Riseley Gaming
Inc., to get a better understanding of the bill. He is part-owner of
Canada's only privately owned and operated casino, located in Moncton,
N.B.

Why was the bill introduced?

Warren: It was
primarily done by the provinces that have border casinos to try and get
Americans to cross the border and come over to Niagara Falls and
Windsor. That was the original idea and why the request was made to the
federal government to make the change.

For years, people in Detroit went to Windsor because there were no
casinos there. So when there was competition, people decided to stop
going.

There's been a massive decline of Americans crossing the border due
to Sept. 11, the mandatory use of passports when crossing the border and
the price in gas.

The idea is you could put together a package on Final Four weekend,
the World Series, etc. and get Americans to return to Canadian casinos
because they can do single-event sports betting instead of multi-event.

How much will the government earn?

Warren:
It's not going to be a huge moneymaker, because ProLine is so
profitable for Ontario now. It's really about giving Americans incentive
to come back to Canada to visit Niagara Falls and Windsor. It’s
primarily based on that.

It will repatriate some grey matter betting that happens now on the
internet. People will now be able to make that same bet legally. It's
not, at the end of day, a huge government windfall, but it’s about
creating a fun environment for people to come back to the casinos.

The government won't earn a lot of money?

Warren: Really, no. When you look at ProLine in Ontario, it's one of the most profitable sportsbooks in the world.

They make so much more money by having the multi-events. It will make
more money for the governments, but it's not a huge cash grab. It’s
more focused on economic development and protection of jobs on the
border cities.

It's more to ensure the border casinos have something to compete with that their American counterparts don't have to offer.

Why are pro sports resistant?

Warren:
When you have multi-event betting, when there’s three different
outcomes, it's nearly impossible for one-person to affect the outcome.
The leagues are doing their due diligence to make sure there's not a
situation where one individual or a referee or a manager can make a huge
impact.

Now, there's so much transparency with the way gambling works, with the way huge bets are made, with security, etc.

It's more an understanding on how the system would work and what
measures would be in place to prevent bad things from happening. With
any change like this, an abundance of caution is a good idea.

I think that if you can put in enough protective measures, you can
have single-event betting occur and still not have people engage in
criminal activity. In Ontario, right now, you can go on the internet and
make the same bet with less regulation.

So really, at the end of the day, there's going to be more measures.

You are going to have to physically go into a casino. You will be on a
security camera. Any transaction over $10,000 is logged inside the
casinos. So those measures are in place to have transparency and
integrity in the games.

If the law is passed, how soon will we see single-event sports betting?

Warren:
In 2007, they spent the money in Ontario at Casino Niagara and they
have a sportsbook now where you can make ProLine bets in Niagara Falls.
Those ProLine bets pay out differently from the same bets you make at
the corner store.

It’s a different set of rules and regulations. So the government, I
believe, is ready to have a turnkey operation. So once they get
permission, it will be months, if not weeks, for them to implement it to
the border sites.